Overview of Gurooriasu Iwakura (グローリアス岩倉)
Gurooriasu Iwakura (グローリアス岩倉) is a 38-year-old condominium located at Iwakura Shichuu Honchou 69-2 (岩倉市中本町69-2), Aichi, Japan. Built in 1988, it comprises 23 units in a Steel Reinforced Concrete (SRC) structure. It was constructed by Okumura Kumi (奥村組).
Pricing & Floor Plans
Based on 13 past listings, prices have ranged from 1,050〜2,380万円 (approx. $70,000–$158,667 USD at ¥150/$).
Unit sizes range from 66.1–73.8 sqm (711–794 sqft). Note: Japanese measurements refer to exclusive-use area (interior only, no common areas).
Available layouts: 2LDK (2-bedroom w/ living-dining-kitchen), 4DK (4-bedroom w/ dining-kitchen), 3LDK (3-bedroom w/ living-dining-kitchen).
Location & Neighborhood
The property is located at Iwakura Shichuu Honchou 69-2 (岩倉市中本町69-2), Aichi, Japan. It is a 3-minute walk to the nearest station. This is considered excellent station access in Japan, where most daily errands are done on foot or by train.
Investment Perspective
Building depreciation: In Japan, buildings depreciate significantly over time. Wood-frame houses depreciate to near-zero value at around 22 years, while RC structures depreciate more slowly but still lose value. At 38 years old, much of the building's value has already depreciated — the price largely reflects land value and location premium.
Key cultural note: Unlike the US where properties typically appreciate over time, Japanese buildings depreciate while the underlying land tends to hold or gain value. This means buyers should evaluate the land-to-building value ratio carefully.
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